Recommended Ring Central Setup

We recommend LPGphone.com (Ring Central) as our preferred phone system for the Land Profit Generator method.

The reasons we recommend them as a resource include:

  • They offer a full-featured virtual phone system (virtual PBX) that can be easily self-managed (doesn’t require expensive phone techs to configure) at a fraction of the cost of a traditional company phone system.

    NOTE: For a complete list of features and up-to-date pricing information please refer to: https://www.ringcentral.com/office/plansandpricing.html
  • They are a virtual system that is hosted in the cloud so you don’t need to install any software on a server that you need to manage or maintain.
  • They provide you with full-featured Desktop and Mobile Applications that allow you to easily make and receive calls from your company phone lines and much more. To download their Desktop or Mobile Apps visit: https://support.ringcentral.com/download.html

Recommended Setup:

We have two recommended setups:

  • A two-line setup
    This will cost you less money per month and is only recommended if the same person/team in your company that takes the offer request calls is also the same person/team that handles offer questions/ negotiations.
  • A three-line setup
    If you have a call center like LandCalls.com answering your offer request line and a separate person/team that answers questions about offers you have made, or is in charge of handling offer negotiations then you want to use this three-line setup to ensure you have a separate extra line for your offer negotiation person/team and you significantly reduce the chance that the seller will call your call center to negotiate an offer.

    NOTE: With Ring Central you can upgrade/downgrade as needed so you can start with two lines then increase to three in the future as your company grows.

The Two-Line Setup

Here’s how it works:

Here’s how you set this up:

In this setup you have two lines, one for your buying (acquisition) side of your business, and one for your selling (disposition) side of your business. At a minimum you want to keep these lines separate because there is a major difference between people that sell land to you and people that buy land from you and you don’t want to cross those two distinctly different markets together.

When someone calls your Buying Line they will hear a custom ‘Auto Receptionist’ message prompting them to either select 1 if they received a letter from you and are interested in selling their property, and #2 if they want to speak to someone regarding an offer you already sent them. This is set up under ‘Phone System> Auto Receptionist> IVR Menus> New IVR Menu

NOTE: The downside of using the two-line setup is it relies on the caller listening to the message and selecting the correct option. Whereas the three-line setup is a simpler process for the caller and eliminates most scenarios

Where To Save The Two Numbers In The Investment Dominator?

Save your Buying Line under both:

  • Customize> Company Information> Company Phone
    Here you are going to put the notation (Option 1) after the number.
  • Customize> Company Information> Offer Phone
    Here you are going to put the notation (Option 2) after the number.

Save Your Selling Line under:

  • Customize> Company Information> Selling Site Phone

The Three-Line Setup

Here’s how it works:

Here’s how you set this up:

Register two additional users with phone numbers (so that your account has a total of three lines).

How to add a User with a line:

Navigate to ‘Users> Add User‘:

Select the ‘Domestic‘ option then click ‘Next‘:

Click on the tab called ‘Add Users without Devices‘.

Then select ‘Yes‘ under the ‘With Numbers‘ field.

Select a local number from the options then click the ‘Add’ button.

Click the ‘Unassigned Extensions‘ option from the left sidebar, then click new extension line to configure it:

Fill out the form to set up the new user/line.

Under the User’s ‘Call Handling & Forwarding‘ settings you can set the forward number that will either go to your call center as in the case of line 1, the desktop app of the person that is going to handle your offer negotiation for line 2, as well as the person/team taking your sales calls for line 3.

NOTE: Ring Central is a 3rd party company so they can change their pricing, features, interface at any time and we do not have control over that. This article should merely serve as a reference to help you get set up the way we have structured our business.

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Payment Calculator>Loans: Terminology and Definitions

Loans

  • Type: You can either choose to calculate a loan with an amortization schedule or a lease-purchase sale which is similar to a rent to own type of sale.
  • Enter In Sale Price: This is the agreed sales price for the property, or in other words, what you are selling the property for.
  • Enter Down Payment: This is the down payment that the buyer puts down at the start of the loan… this amount reduces dollar for dollar the amount financed before the loan is amortized.
  • Enter Annual Property Tax (If applicable): When you owner finance a property, you always want to pay the taxes on behalf of the buyer, therefore the annual property taxes are included in the calculation to determine the monthly payment amounts as well as the four-month tax reserve due at closing.
  • Enter HOA/POA (If applicable): If the property has HOA (Home Owners Association) or POA (Property Owners Association) dues, then you want to enter in the annual amount due. Just like the property taxes, you will want to pay any HOA or POA dues on behalf of the buyer and that is factored into the monthly payment amount.
  • Enter Doc Fee (optional): A doc fee is like an administrative fee to conduct the transaction. You can think of it like the fee you would pay a title company to transact a cash sale. It is paid to you at closing but not applied to the loan balance. It is industry standard to charge $500 for this fee.
  • Enter Interest Rate (optional): The interest rate is used to calculate the interest portion of the payment and it is amortized over the term of the loan. If you are not going to charge an interest rate you can enter in 0 to calculate the loan as a 0% interest loan. Since banks do not typically lend on land the interest rate on land does not follow the rates on houses. It is quite typical to charge a 12.9% rate on land even if financing on houses is at 3%.
  • Enter Monthly Loan Service Fee (optional): The serving fee is an administrative fee for serving the loan. It is factor into the monthly payment however it is an amount in addition to the amounts applied to principal, interest, and impound. Think of this as compensation for the administration effort required from you to manage the loan. It is industry standard to charge $18 to $20 for this fee.
  • Enter Term (optional): This is the number of months the loan is amortized over, or in other words, this is how many months it will take for them to pay off the loan assuming they pay the minimum amount due each month. If you leave this field blank the system will determine the loan term for you. Or you can enter in your own term and the calculator will adjust accordingly. Keep in mind the lower the term the higher the payment will be and the faster the buyer will be paying off the loan.

Loan Summary

  • Sales Price: This is the agreed sales price for the property, in other words, what you are selling the property for.
  • Down Payment: This is the amount that the buyer puts down at the start of the loan which reduces dollar for dollar the amount financed before the loan is amortized.
  • Doc Fee: This is the administrative fee to conduct the transaction. You can think of it like the fee you would pay a title company to transact a cash sale. It is paid to you at closing but not applied to the loan balance.
  • 4 Month Reserve: This is the annual property taxes plus any HOA/ POA annual dues summed up and divided into a monthly impound amount, multiplied by four. The reason we charge this at closing is to accelerate the amounts in the reserve/impound account that are set aside to pay the annual property taxes and HOA/POA dues on the buyer’s behalf in case these amounts fluctuate over the loan term or they are due before the account is fully funding by the monthly inbound amounts. Or in other words, we are over funding the impound reserve account to prevent funding issues that may or may not occur in the future. Any amounts paid into the reserve impound account in excess should be returned to the buyer once the loan has been satisfied and title transferred to the buyer.
  • Total Due Today: This is the total amount the buyer will need to pay at closing in order to purchase the property with the financing.
  • Amount Financed: This is the amount the buyer is financing with you over the term of the loan.
  • Interest Rate: This is the interest rate is used to calculate the interest portion of the payment and it is amortized over the term of the loan.
  • Monthly Payment: This is the base monthly payment which includes the principal and interest portion of the payment.
  • Monthly Impound Amount: This is the annual property taxes and any HOA/POA annual dues split up by month. These funds are set aside to pay the property taxes and any HOA/POA annual dues each year on behalf of the buyer.
  • Loan Term: This is the number of months the loan amortized over. In other words, the number of months it will take the buyer to pay off the loan assuming they only pay the minimum amount due each month on time.
  • Monthly Loan Service Fee: This is an administrative fee for serving the loan.
  • Total Monthly Payment: This is the minimum amount the buyer will need to pay you each month. This amount includes the principal, interest payment, monthly impound amount and loan serving fee that is due each month.
  • Pay Day: This is the day of the month that the payments are due. Typically this is set to 1 which is the 1st day of the month
  • Per Diem: This is the amount owed on a per day basis this is used if someone asks for their payoff amount but they can’t pay for a few days, in that case you would give them their Payoff amount and Per Diem amount and let them know to tack on the Per Diem amount for each day beyond today to the Payoff amount so that they send in the correct amount.
  • Bring Current Amount: This is the amount that the person owes at any given moment it includes any outstanding payments as well as any outstanding fees.
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How To Enter Neighbor Records Into The System And Generate Neighbor Letters

Generating Neighbor Letters out of Investment Dominator is a strategy to assist in selling properties you are currently marketing. To adequately support this activity, it is necessary to enter Neighbor records into the Investment Dominator for access.

There are currently 2 different methods to have Neighbor records entered into Investment Dominator and they are described as follows:

A) Entering Neighbor Records by way of the Add Contact function in the Marketing tab. Enter 1 Neighbor record at a time for a given property.

B) The importing of Neighbor Records for specific parcels after acquiring a list of names/addresses from county records or using an outside vendor.

A) Enter Neighbor Records by [Add Contact] function

Neighbor Records can be entered 1 record at a time for a given property using the Add Contact function. The following steps illustrate this process:

Step 1a) Under Marketing Tab > [Add Contact] function

Navigate to the ‘Marketing Tab> Add Contact function:

Step 2a) Enter Any Available Neighbor Information

On Add Contact screen enter any information acquired to generate Neighbor Record. Fields noted in RED, (not marked Optional) should be entered.

Note: If using County record information you may have a limited amount of information to enter for this neighbor, such as first/last name and mailing address.

1st Part Of Neighbor Record
2nd Part of Neighbor Record

Step 3a) Finish and Add Neighbor Record

Press the blue Finish Add Contact button to complete entry of Neighbor Record

B) Importing Neighbor Records for parcels after acquiring names/addresses from county records or use of an outside vendor

Neighbor records can be entered into the Investment Dominator, (in bulk) by use of the Import function. The following steps illustrate this process:

Note: A vendor such as ListSource can be employed to supply an entire list of Neighbors around a specific parcel for importing into Investment Dominator.

Step 1b) Under Marketing Tab > Import function

Navigate to the ‘Marketing Tab> Import function:

Step 2b) Prepare The Import List Based On Sample List Format

Prior to importing a list of Neighbor records, make sure your .CSV (Excel) file is saved on your computer based on the following attributes:

  • Each Neighbor record must have the Type=Neighbor
  • First Name, Last Name, Address, City, State, Zip Code, Interested In Property ID – A, (at minimum) fields must be entered based on SAMPLE-CONTACT-IMPORT-LIST.csv as shown
  • Excel file must be saved as .CSV (Comma Delimited) at an appropriate location on your computer

Note: Use the sample list to ensure your data list is formatted correctly.

Step 3b) Import Excel Neighbor Records File

Under Marketing Tab select Import function to import Neighbor Records Excel file into Investment Dominator.

Choose the .CSV Comma Delimited Excel file, (saved from Step 2b) using the Choose File function. The chosen file displays next to Choose File button.

Press the blue Upload List button to import the Neighbor Records into Investment Dominator.

C) Generating The Neighbors Letter Campaign

Navigate to the ‘Marketing> Campaigns‘ screen in the system, then under the ‘Marketing section click the .DOC or .PDF icons on the ‘Neighbor’s Letter (Land)‘ line for both the letters and envelopes.

If you would like to have a mailing house print the letters click on the green .CSV icon to the right of the row to generate the mailing list for the main house.

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Using ASCII Symbols In Ad Titles As Pattern Interrupts

When people scroll through ads on sites like Craigslist that have popular text list views you’ll want to make sure your listing stands out. One way to do this is to use ASCII or HTML Symbols in your titles to catch the eye of visitors as they scan through the list of titles.

Below is a complete list of HTML codes you can use in your titles to display a special character in your title:

¥
¥
£
£
¢
¢

✿

╳

★

▶

◀

▼

▲

☰

⋗
®
®
©
©

∏

∑

∂

∫
ɾ
ɾ

〈

⎞
Ο
Ο

☺
о
о
ت
ت

✦

✪

☼

☛

✤
Ʒ
Ʒ

☞
Ρ
Ρ

⎷

⎛

➝

◕

✚

☯
˙
˙

■

‼
О
О

☠
Т
Т
М
М
İ
İ

➣
Ŝ
Ŝ
Ғ
Ғ

∞

∑

☂

▐

❥

≋

▀

▄

☎

▬

☮



घ

❀

र

➨

░

〓

❶

✖

➽

╰

‿
з
з

⎲

,

√

❍

†

‡

◊

↑

↓

←

→

❂

⨀

▸

✉

⁢

♬

♩

♭

♯

♪

⇒

⎬

。

♫

;

⋐

⌒

❈

✲

❁

✓

✭

✜

中

❑

文

服

務

の

♛

☑

∞

▒

✈

┉

☻

◙

&#149

☜

●
ن
ن

▷

☲

☵

☢

○

❏

❤

☚
°
°
ɼ
ɼ

⋕
Α
Α

➠

◤

◥

☗

♞

✫

♔

┊
ق
ق

↔

◘

✛

♻

□

➲

▓

✰
¬
¬

⎯

⎰

✔
Ʈ
Ʈ

☁

▣

⋘

提
§
§

╠

╬

➪

█

➔
µ
µ
Ŀ
Ŀ

╊

⎨

♣

♨
Ѕ
Ѕ

✱

⤎
ـ
ـ
·
&#183

☓

❖
ε
ε

↻

☏

☆
¤
¤
Ƹ
Ƹ

Ằ

◆

☀

♦

⋙
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Notes: How To Attach A Property To A Note

There are two ways you can attach a property, or properties to a seller financing Note:

  1. If you create the Note from the ‘Land>Options>Payment Calculator> Create New Loan‘ or ‘Land>Options>Payment Calculator> Create New Lease Purchase‘ then the system will attach the property record that you were on when you opened the Payment Calculator to the New Note record.
  2. If you create the Note from the ‘Notes> New Note‘ screen, then under the ‘Property Information‘ section you will need to manually select the property or properties that you want to attach to the Note.

NOTE: In order to attach a property record to a Note record the Land Record must be in the ‘Complete/ Ready To Sell‘, or ‘SOLD‘ Status.

NOTE: Multiple properties can be attached to a single Note record.

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How To Delete A Note (Loan/ Lease Purchase)

IMPORTANT: Before you delete a Note we highly recommend that you export both the Note and the payment data to your local machine as deleting the Note will also delete the attached payment history for that Note.

To Delete A Note:

  1. Click on the ‘Notes‘ Tab.
  2. Click the ‘Edit‘ link next to the Note that you would like to delete.
  3. Click the ‘Edit Record‘ button located at the top right of the record.
  4. Under the ‘Loan Information‘ or ‘Lease Purchase Information‘ section click the ‘Delete Note‘ button.
  5. A warning message will appear asking you if you want to delete the Note and the attached payment history.
  6. Click ‘Yes – Delete‘ to continue.
  7. You will see a confirmation message once the Note has been successfully removed.
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Notes: How To Link Buyers To a Loan or Lease Purchase Record

To link buyer(s) to a Loan or Lease Purchase Note first click the ‘Edit‘ link to the right of the Note record that you want to update:

Click the ‘Edit Record‘ option to the top right of the screen:

Navigate to the ‘Buyer Information‘ section and under the ‘Primary Buyer‘ field select a Buyer Contact that you want to attach to the loan.

NOTE: The contact must be entered under the ‘Marketing‘ tab as a ‘Buyer’ record in order to be attached to a Note.

NOTE: You can also attach additional Buyers to the Note under the ‘Secondary Buyer(s)‘ field.

All the buyers that are referenced under the ‘Buyer Information‘ area will be referenced in Note Documents that you generate from the system regarding the Note.

Click the ‘Save Changes‘ at the top right of the record to apply the changes.

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How To Generate A Payoff Amount

If your Buyer wants to pay off their Loan Note early, or Buy a Lease Purchased property prior to the completion of their lease term, then you can generate a payoff amount for them easily in the system.

To access a Note’s ‘Payoff Amount‘ first click the ‘Edit‘ link to the right of the Note record:

Under the ‘Loan Information‘ section scroll down to the ‘Payoff Amount‘ field and reference the amount that the system calculates:

NOTE: The ‘Payoff Amount‘ plus the ‘Principal Paid To Date‘ should equal the ‘Original Loan Amount‘.

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How To Make Changes/Edits To A Loan/ Lease Purchase Note or Logged Payments

To make changes to a Loan or Lease Purchase Note first, click on the ‘Edit‘ link to the right of the record that you want to update.

Next, from the Edit screen, click the ‘Edit Record‘ option located at the top right of the page:

This will allow you to edit and save any portion of the Note except for the payment information. If you would like to make changes to any payments that have been logged under the Note, please refer to the ‘How To Edit Payments‘ section below in this article.

To save your changes click the ‘Save Changes‘ button located at the top right of the page:

How To Edit Payments

To make changes to any payments you must first click the ‘Edit Payments‘ link located above and to the right of the ‘Payments‘ section.

To save your changes click the ‘Save Changes‘ link located above and to the right of the ‘Payments‘ section.

IMPORTANT NOTE: We do not recommend that you make changes to the loan terms after payments have already been logged, as this may affect the repayment schedule substantially. In most cases, it is better to create a new Note entirely that contains the new terms so that the system can calculate the payment schedule properly from the beginning of the Note.

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How To Create A Loan or Lease Purchase Note

There are two ways you can create a new Loan or Lease Purchase Note in the system:

  1. Navigate to ‘Notes> New Note‘ fill out the form and click the blue ‘Create Note‘ button at the bottom of the screen.

2) You can create a Note from the 2nd step of the ‘Payment Calculator‘ option screen under the ‘Land‘ section of the system. By clicking the blue ‘Create New Loan‘ or ‘Create New Lease Purchase‘ button.

NOTE: If you create the Loan or Lease Purchase Note from this screen the Status of the loan will be set by default to “Preview” and you must manually move the Status to “Open” to activate the Note.

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